The S&P/Case-Shiller Home Price Index was released today with less than favorable numbers…shocking (Insert sarcasm here)! It indicates we are in the dreaded “second dip” meaning every report you are going to hear today and probably for the rest of the week will most likely be doom and gloom.
However, what we would like to remind readers is; the report is based on data through February 2011 and it is now April and sales have picked up! While we can’t speak for the rest of the country, we can speak on our sales and as of today we will be closing the same amount of homes this month as we had in April 2006. We are competing with multiple offers on Purchases and receiving a few multiple offers on our Listings.
Who’s to say what next month will bring? We sure do NOT have a crystal ball! However, we can say that sellers are more realistic with their pricing and buyers are finally buying which means homes are moving.
The table below summarizes the results for February 2011.
You can view the S&P Case-Shiller report here.